Tuesday, June 7, 2011

ES-F: Before the Bell .... Flash Alert




In last night's call I detailed an anticipated move to the .382 retracement level that would occur either in the ON session of for today. If you missed the call, click here to read more.





The 3600 tick charts shows that the market is working a corrective move where w.B = ..5 w.A at 1288.5. Thereafter, expect another move to the upside that will unfold in five waves where w.C = w.A at 1299 to complete w.iv (see  240 minute chart level above). Note this is agreement level as well as the test of the lower boundary of the price channel (not shown).

Let's see if the scenario plays out.

Best of Trading



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